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Selected Quarterly Data (Unaudited) (Tables) | 12 Months Ended
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Sep. 30, 2019
Selected Quarterly Financial Information Abstract |
Schedule of Selected Unaudited Consolidated Quarterly Financial Information | The following table sets forth selected unaudited consolidated quarterly financial information for the years ended September 30, 2019 and 2018 (in thousands, except percents and per share amounts):
|  | Fiscal Year 2019 |
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Revenue, net of returns and allowances |  | $ | 23,225 |  |  | $ | 20,633 |  |  | $ | 21,003 |  |  | $ | 20,174 |
Cost of sales |  |  | 14,205 |  |  |  | 12,706 |  |  |  | 13,153 |  |  |  | 11,614 |
Gross profit |  |  | 9,020 |  |  |  | 7,927 |  |  |  | 7,850 |  |  |  | 8,560 |
Selling, general and administrative |  |  | 6,626 |  |  |  | 5,793 |  |  |  | 5,718 |  |  |  | 6,126 |
Research, development and engineering |  |  | 866 |  |  |  | 713 |  |  |  | 746 |  |  |  | 743 |
Restructuring charges |  |  | 864 |  |  |  | 173 |  |  |  | 35 |  |  |  | 38 |
Operating income |  |  | 664 |  |  |  | 1,248 |  |  |  | 1,351 |  |  |  | 1,653 |
Interest and other income, net |  |  | 166 |  |  |  | 96 |  |  |  | 249 |  |  |  | 341 |
Income from continuing operations before income taxes |  |  | 830 |  |  |  | 1,344 |  |  |  | 1,600 |  |  |  | 1,994 |
Income tax provision |  |  | 582 |  |  |  | 332 |  |  |  | 707 |  |  |  | 1,012 |
Income from continuing operations, net of tax |  |  | 248 |  |  |  | 1,012 |  |  |  | 893 |  |  |  | 982 |
(Loss) income from discontinued operations, net of tax |  |  | (2,620 | ) |  |  | (6,647 | ) |  |  | 1,154 |  |  |  | (184 | )
Net (loss) income |  | $ | (2,372 | ) |  | $ | (5,635 | ) |  | $ | 2,047 |  |  | $ | 798 |
Gross margin |  |  | 38.8 | % |  |  | 38.4 | % |  |  | 37.4 | % |  |  | 42.4 | %
Operating margin |  |  | 2.9 | % |  |  | 6.0 | % |  |  | 6.4 | % |  |  | 8.2 | %
Income (Loss) Per Basic Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic income per share from continuing operations |  | $ | 0.02 |  |  | $ | 0.07 |  |  | $ | 0.06 |  |  | $ | 0.07 |
Basic (loss) income per share from discontinued operations |  | $ | (0.18 | ) |  | $ | (0.47 | ) |  | $ | 0.08 |  |  | $ | (0.01 | )
Net (loss) income per basic share |  | $ | (0.16 | ) |  | $ | (0.40 | ) |  | $ | 0.14 |  |  | $ | 0.06 |
Income (Loss) Per Diluted Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Diluted income per share from continuing operations |  | $ | 0.02 |  |  | $ | 0.07 |  |  | $ | 0.06 |  |  | $ | 0.07 |
Diluted (loss) income per share from discontinued operations |  | $ | (0.18 | ) |  | $ | (0.47 | ) |  | $ | 0.08 |  |  | $ | (0.01 | )
Net (loss) income per diluted share |  | $ | (0.16 | ) |  | $ | (0.40 | ) |  | $ | 0.14 |  |  | $ | 0.06 |
Weighted average shares outstanding - basic |  |  | 14,220 |  |  |  | 14,228 |  |  |  | 14,245 |  |  |  | 14,266 |
Weighted average shares outstanding - diluted |  |  | 14,252 |  |  |  | 14,258 |  |  |  | 14,316 |  |  |  | 14,304 |
|  | Fiscal Year 2018 |
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Revenue, net of returns and allowances |  | $ | 27,116 |  |  | $ | 21,115 |  |  | $ | 28,743 |  |  | $ | 23,079 |
Cost of sales |  |  | 17,156 |  |  |  | 12,533 |  |  |  | 18,560 |  |  |  | 14,886 |
Gross profit |  |  | 9,960 |  |  |  | 8,582 |  |  |  | 10,183 |  |  |  | 8,193 |
Selling, general and administrative |  |  | 6,424 |  |  |  | 6,319 |  |  |  | 6,775 |  |  |  | 6,225 |
Research, development and engineering |  |  | 675 |  |  |  | 778 |  |  |  | 582 |  |  |  | 821 |
Impairment charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,247 |
Operating income (loss) |  |  | 2,861 |  |  |  | 1,485 |  |  |  | 2,826 |  |  |  | (1,100 | )
Gain on sale of other assets |  |  | — |  |  |  | — |  |  |  | 2,883 |  |  |  | — |
(Loss) income from equity method investment |  |  | (26 | ) |  |  | 28 |  |  |  | 232 |  |  |  | — |
Interest and other income (expense), net |  |  | 18 |  |  |  | (32 | ) |  |  | 410 |  |  |  | 342 |
Income (loss) from continuing operations before income taxes |  |  | 2,853 |  |  |  | 1,481 |  |  |  | 6,351 |  |  |  | (758 | )
Income tax provision |  |  | 1,152 |  |  |  | 420 |  |  |  | 1,372 |  |  |  | 352 |
Income (loss) from continuing operations, net of tax |  |  | 1,701 |  |  |  | 1,061 |  |  |  | 4,979 |  |  |  | (1,110 | )
Income (loss) from discontinued operations, net of tax |  |  | 4,751 |  |  |  | 1,774 |  |  |  | (8 | ) |  |  | (7,843 | )
Net income (loss) |  | $ | 6,452 |  |  | $ | 2,835 |  |  | $ | 4,971 |  |  | $ | (8,953 | )
Gross margin |  |  | 36.7 | % |  |  | 40.6 | % |  |  | 35.4 | % |  |  | 35.5 | %
Operating margin |  |  | 10.6 | % |  |  | 7.0 | % |  |  | 9.8 | % |  |  | (4.8 | )%
Income (Loss) Per Basic Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic income (loss) per share from continuing operations |  | $ | 0.12 |  |  | $ | 0.07 |  |  | $ | 0.33 |  |  | $ | (0.08 | )
Basic income (loss) per share from discontinued operations |  | $ | 0.32 |  |  | $ | 0.12 |  |  | $ | (0.00 | ) |  | $ | (0.53 | )
Net income (loss) per basic share |  | $ | 0.44 |  |  | $ | 0.19 |  |  | $ | 0.33 |  |  | $ | (0.61 | )
Income (Loss) Per Diluted Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Diluted income (loss) per share from continuing operations |  | $ | 0.11 |  |  | $ | 0.07 |  |  | $ | 0.33 |  |  | $ | (0.08 | )
Diluted income (loss) per share from discontinued operations |  | $ | 0.31 |  |  | $ | 0.12 |  |  | $ | (0.00 | ) |  | $ | (0.53 | )
Net income (loss) per diluted share |  | $ | 0.42 |  |  | $ | 0.19 |  |  | $ | 0.33 |  |  | $ | (0.61 | )
Weighted average shares outstanding - basic |  |  | 14,781 |  |  |  | 14,891 |  |  |  | 14,925 |  |  |  | 14,730 |
Weighted average shares outstanding - diluted |  |  | 15,298 |  |  |  | 15,154 |  |  |  | 15,091 |  |  |  | 14,730 |

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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